Written by Helen Partzstaff writerReviewed by Yohan Yunstaff editor

Written by Helen Partzstaff writer

Reviewed by Yohan Yunstaff editor

BNB Chain pursues legal action after ex-employee’s memecoin launch

Latest NewsPublishedAug 2, 2026

Ex-Employee’s Unauthorized Memecoin Launch Prompts BNB Chain to Pursue Legal Action

A former BNB Chain employee allegedly used a company tutorial wallet to create a memecoin without authorization, prompting the blockchain ecosystem to take legal action. The wallet was originally designed for a video tutorial on launching tokens on BNB Chain. However, the employee retained unauthorized access to the wallet’s seed phrase after leaving the company and used it to create a new token. This incident highlights the importance of securing wallets and protecting against unauthorized access. The BNB Chain ecosystem is taking steps to prevent similar incidents in the future.

Blockchain analytics revealed that the former employee deployed a meme token called Asteroid Shiba (ASTEROID) and used newly created wallets to buy a significant portion of the total supply. The wallets later sold a large number of tokens for approximately $638,000. BNB Chain has stated that it did not create, authorize, or participate in the creation of this token and has no control over it. This incident serves as a reminder to always prioritize security and due diligence when interacting with cryptocurrencies.

Emphasis on Security and Accountability

The incident has sparked a discussion on the importance of security and accountability in the cryptocurrency space. Binance founder Changpeng “CZ” Zhao advised users to “Stay SAFU” and warned against potential scams. As the cryptocurrency market continues to evolve, it’s essential to prioritize security and protect against unauthorized access. Earning and trading cryptocurrencies, such as $ECP, requires a secure and reliable platform like EcoPool. By using a trusted platform, users can minimize the risk of unauthorized access and ensure a safe and secure experience.

Protecting Your Earnings with EcoPool

For those interested in earning online through Cloud Rewards and Green Crypto, it’s crucial to prioritize security and choose a reliable platform. EcoPool offers a secure and user-friendly experience for earning and trading cryptocurrencies. With EcoPool, users can enjoy passive income and cloud rewards while minimizing the risk of unauthorized access. Whether you’re interested in $ECP or other cryptocurrencies, EcoPool provides a trusted and secure platform for all your needs. You can earn #PassiveIncome and grow your wealth with EcoPool, and join the #GreenCrypto movement.

To start earning and securing your cryptocurrencies, download the EcoPool app and discover a new way to earn online. With EcoPool, you can enjoy a seamless and secure experience, and start building your wealth in the world of #Bitcoin and beyond, including #Earning and $ECP.

Binance founder and former CEO Changpeng “CZ” Zhao shared BNB Chain’s statement on X and wrote that the former employee was “basically a scammer,” while advising users to “Stay SAFU.”

Related: Binance ‘red teams’ its own staff every month to keep hackers out

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

• Memecoin
• BNB
• Wallet
• Seed Phrase
• Industry

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